AFLG vs SPY
First Trust Active Factor Large Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AFLG or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. AFLG led over 1Y and 3Y, SPY over 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. AFLG is less concentrated, with 33.3% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AFLG | SPY |
|---|---|---|
| Expense Ratio | 0.55% | 0.09%Best |
| AUM | $784M | $804.7B |
| Dividend Yield | 0.71% | 0.98% |
| Holdings | 432 | 505 |
| YTD Return | +13.85%Best | +12.22% |
| 1Y Return | +17.74%Best | +16.97% |
| 3Y Return (annualized) | +21.83%Best | +21.16% |
| 5Y Return (annualized) | +12.49% | +13.00%Best |
| Volatility (annualized) | 16.7%Best | 16.9% |
| Max Drawdown | -35.8% | -34.1%Best |
| $10,000 over 5 years | $18,012 | $18,424Best |
| Top 10 Weight | 33.3%Best | 37.8% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 4, 2019 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 4, 2019 to Sep 17, 2026 (6.8 years).
AFLG vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.8 years both funds cover.
AFLG vs SPY Performance
First Trust Active Factor Large Cap ETF (AFLG) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AFLG returned +17.74% while SPY returned +16.97%. Year to date, AFLG is up 13.85% versus a gain of 12.22% for SPY.
Over three years, AFLG compounded at +21.83% per year against +21.16% for SPY; over five years the annualized figures are +12.49% and +13.00% respectively. Across the full 7-year window we track, SPY has the edge at +15.36% annualized vs +13.53%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 16.7% for AFLG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -35.8% for AFLG and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AFLG charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, AFLG currently yields 0.71% against 0.98% for SPY.
Holdings Overlap
89.1% of AFLG's money is in holdings SPY also owns. 60.9% of SPY's money is in holdings AFLG also owns.
Most of AFLG is already inside SPY. Owning both mostly buys the same companies twice.
182 positions in common, counted across the 215 positions we hold weights for in AFLG and 504 in SPY, against full books of 432 and 505.
What only one of them owns
Our book lists 316 positions for SPY that do not appear in our book for AFLG (38.7% of the fund), and 30 for AFLG that do not appear in SPY (8.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in AFLG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.86% | 8.01% | 0.15% |
| AAPLApple, Inc | 6.32% | 7.26% | 0.94% |
| MSFTMicrosoft Corp | 3.98% | 5.66% | 1.68% |
| GOOGLAlphabet Inc,class A | 5.69% | 2.99% | 2.70% |
| AMZNAmazon.Com Inc | 2.32% | 3.79% | 1.47% |
| AVGOBroadcom Inc | 2.54% | 2.66% | 0.12% |
| METAMeta Platforms Inc | 0.70% | 1.93% | 1.23% |
| XOMExxon Mobil Corp. | 1.01% | 1.04% | 0.03% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 0.59% | 1.40% | 0.81% |
| MUMicron Technology, Inc. | 0.35% | 1.60% | 1.25% |
89.1% of AFLG is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AFLG or SPY?
AFLG has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option, by $46 a year on a $10,000 investment.
Which performed better, AFLG or SPY?
Over the past year AFLG returned +17.74% vs +16.97% for SPY, so AFLG leads on 1-year performance. Over the longest common window we track (7 years), AFLG annualized +13.53% vs +15.36% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AFLG or SPY?
SPY has been the more volatile fund at 16.9% annualized versus 16.7% for AFLG. Worst drawdown: AFLG -35.8% vs SPY -34.1%.
Should I hold both AFLG and SPY?
AFLG and SPY have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between AFLG and SPY?
89.1% of AFLG's money is in holdings SPY also owns. 60.9% of SPY's is in holdings AFLG also owns. They hold 182 positions in common, counted across the 215 positions we hold weights for in AFLG and 504 in SPY.
Which pays a higher dividend, AFLG or SPY?
AFLG yields 0.71% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than AFLG?
SPY has a lower expense ratio. AFLG led over 1Y and 3Y, SPY over 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. AFLG is less concentrated, with 33.3% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.